Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Up 6.9% After Analyst Upgrade

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) shot up 6.9% during mid-day trading on Monday after Bank of America raised their price target on the stock from $39.00 to $45.00. Bank of America currently has an underperform rating on the stock. Cracker Barrel Old Country Store traded as high as $59.02 and last traded at $59.20. 240,262 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 812,128 shares. The stock had previously closed at $55.38.

Other analysts also recently issued reports about the company. Truist Financial increased their price target on Cracker Barrel Old Country Store from $63.00 to $64.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Loop Capital raised their target price on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the company a "hold" rating in a research report on Friday, June 6th. UBS Group reiterated a "neutral" rating and set a $60.00 target price (up from $48.00) on shares of Cracker Barrel Old Country Store in a research note on Tuesday, June 3rd. Citigroup restated a "sell" rating and set a $42.00 price target (up previously from $39.00) on shares of Cracker Barrel Old Country Store in a research report on Friday, May 23rd. Finally, Wall Street Zen raised shares of Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a research report on Sunday, March 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cracker Barrel Old Country Store presently has an average rating of "Hold" and an average price target of $53.71.

Insiders Place Their Bets

In related news, major shareholder Gmt Capital Corp purchased 105,900 shares of Cracker Barrel Old Country Store stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $35.94 per share, for a total transaction of $3,806,046.00. Following the completion of the transaction, the insider now owns 2,452,200 shares in the company, valued at $88,132,068. This trade represents a 4.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired 385,307 shares of company stock worth $15,679,910 over the last quarter. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its holdings in shares of Cracker Barrel Old Country Store by 685.9% in the 4th quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 487 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Cracker Barrel Old Country Store during the 1st quarter valued at about $25,000. Brooklyn Investment Group bought a new stake in Cracker Barrel Old Country Store in the 1st quarter worth $30,000. Smartleaf Asset Management LLC raised its holdings in shares of Cracker Barrel Old Country Store by 1,601.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 970 shares of the restaurant operator's stock valued at $52,000 after acquiring an additional 913 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in Cracker Barrel Old Country Store in the fourth quarter worth about $56,000. Institutional investors own 96.01% of the company's stock.

Cracker Barrel Old Country Store Trading Down 1.1%

The company has a current ratio of 0.69, a quick ratio of 0.24 and a debt-to-equity ratio of 1.20. The company has a market cap of $1.23 billion, a PE ratio of 30.41, a PEG ratio of 8.36 and a beta of 1.45. The stock has a 50 day moving average price of $49.07 and a 200 day moving average price of $50.09.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.41. The company had revenue of $821.10 million for the quarter, compared to analysts' expectations of $824.65 million. Cracker Barrel Old Country Store had a net margin of 1.15% and a return on equity of 18.61%. Cracker Barrel Old Country Store's revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS. Sell-side analysts predict that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 13th. Investors of record on Friday, July 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.82%. The ex-dividend date is Friday, July 18th. Cracker Barrel Old Country Store's dividend payout ratio is currently 38.76%.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.